Imax and VieShow Cinemas sign multi-theatre deal for Taiwan

MUMBAI: Imax Corporation and Taiwan exhibition chain VieShow Cinemas have signed an agreement to open six additional Imax theatres in Taiwan, following the strong results at its first Imax location at the Sun VieShow Cinemas multiplex in the city of Taipei.

The installations are scheduled to be completed by June 2014, and all locations will utilize Imax’s digital projection technology. The exhibitor’s first Imax location opened with the launch of DreamWorks Animation’s Monsters v.s. Aliens: An Imax 3D Experience, followed by Paramount Pictures’ Transformers: Revenge of the Fallen: The Imax Experience, which ranked the theatre as the highest grossing screen in the country, generating $125,469 on its opening weekend.

The six-theatre deal was signed following the recently announced agreement between Imax and Chinese film studio Huayi Bros. to release mainstream Chinese films to Imax theatres in China and other parts of Asia. There are currently 77 Imax theatres scheduled to be operating in Asia by 2012. To date, Imax has signed contracts for more than 220 Imax digital projection systems worldwide, with more than 100 currently in operation.

"Moviegoers in Taipei clearly love The Imax Experience. The incredible performance of our first location has exceeded our expectations. We believe that adding more locations will boost our brand and bottom line, especially given that Imax’s film slate has expanded to include mainstream Chinese films, and the performance of our first location has proven the compelling economics of Imax’s digital projection system," said VieShow Cinemas chairman Charles Wang.

"VieShow is doing an exceptional job of marketing The Imax Experience to its customers in Taipei and we’re delighted to see such strong results from its first location. VieShow’s decision to add six more locations and their enthusiasm towards Imax helps us continue to generate momentum in Asia," said Imax CEO Richard L. Gelfond.

"Our digital projection technology has enabled VieShow to capitalize on the premium Imax offering very quickly and we’re very excited to expand the network with them so soon after their initial launch. The expansion of our film slate opens up new opportunities for us in Asia and we’re happy to see that it is helping to motivate well-known exhibitors to secure locations," added Imax executive vice president, theatre development Larry O’Reilly.